Mayday PAC gains matching pledges

The so-called “super PAC to end all super PACs” has secured matching pledges from a handful of wealthy donors in advance of a planned fall campaign.

Mayday PAC — launched last month by Harvard Law School professor Lawrence Lessig and Republican strategist Mark McKinnon — announced Wednesday that it is planning a $12 million push in a small number of congressional races.

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The PAC was formed on the premise of using grass-roots donations to defeat candidates who oppose campaign finance reform efforts and to work to curb the influence of big money in politics.

“The influence of big money over our political process is worse than it’s ever been, and it’s evident from the complete dysfunction in Washington,” said Lessig in a statement. “Mayday PAC’s success will prove that there are enough people willing to invest in sending Congress the message that it is time for fundamental campaign finance reform.”

The PAC raised $1 million in grass-roots donations in its first 13 days in existence and has now set a $5 million target by July 4. If Mayday PAC reaches that goal, Lessig and McKinnon have lined up the support of a handful of wealthy donors — mostly from Silicon Valley — to kick in an additional $5 million in matching funds.

If the renewed push is successful, the PAC would have a $12 million war chest for the 2014 cycle. Though that is a modest sum in the world of big-money politics, the PAC would invest in five targeted congressional races. The campaigns have yet to be announced or determined.

If their investments and fundraising efforts are successful, the PAC would like to expand its operations and scope during the 2016 cycle.

A similar effort is being run by Jonathan Soros, the son of billionaire Democratic financier George Soros. Soros’ Friends of Democracy also bills itself as “the super PAC to end all super PACs” and aims to help congressional candidates who support money in politics reforms.

Friends of Democracy invested $1.7 million in eight targeted congressional races in 2012.

CORRECTION: An earlier version of this article misstated the amount of matching contributions.